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Xwell cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$4.7M in Q2 2026 · −$13.5M over twelve months

Operating cash flow−$4.5M
Capital spending−$169K
Free cash flow−$4.7M
Cash conversion cycle-27 days

Analysis

In Q2 2026, Xwell generated −$4.5M of operating cash flow and spent $169K on capital projects, leaving free cash flow of −$4.7M. That is $1.4M less than in Q2 2025 (−$3.3M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$11.3M; the largest uses were operating cash flow ($11.3M), capital spending ($2.2M); besides operations, cash came from other financing ($17.5M), other investing ($2.9M); the cash balance rose by $6.8M.

Operating cash flow was −$4.5M against net income of −$1.9M. The largest differences: payables −$1.9M, receivables −$510K, gains on investments −$188K.

Its cash conversion cycle was -27 days (receivables 20 + inventory 9 − payables 56): suppliers fund its working capital.

Free cash flow

Xwell: free cash flow by quarterXwell: free cash flow by quarter−$3.8MQ3 2024−$4.2MQ4 2024−$4.6MQ1 2025−$3.3MQ2 2025−$3.1MQ3 2025−$748KQ4 2025−$5.0MQ1 2026−$4.7MQ2 2026
Operating cash flow less capital spending.
Xwell: operating cash flow against capital spendingXwell: operating cash flow against capital spendingOperating cash flowCapital spending−$3.4M$410KQ3 2024−$3.5M$729KQ4 2024−$4.2M$424KQ1 2025−$2.4M$889KQ2 2025−$2.1M$945KQ3 2025−$42K$706KQ4 2025−$4.6M$390KQ1 2026−$4.5M$169KQ2 2026
Latest (Q2 2026): Operating cash flow −$4.5M, Capital spending $169K.

Capital allocation, year by year

Xwell: where the cash came from (up) and went (down), by fiscal yearXwell: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $14.6MFY2021: Shares issued $13KFY2021: Capital spending −$4.3MFY2021: Buybacks −$7.8M$14.6MFY2021FY2022: Operating cash flow −$24.2MFY2022: Capital spending −$6.5MFY2022: Acquisitions −$4.9MFY2022: Buybacks −$23.8MFY2022FY2023: Operating cash flow −$16.1MFY2023: Capital spending −$1.9MFY2023: Acquisitions −$1.4MFY2023FY2024: Operating cash flow −$11.0MFY2024: Shares issued $1.4MFY2024: Capital spending −$1.8M$1.4MFY2024FY2025: Operating cash flow −$8.7MFY2025: Shares issued $3.7MFY2025: Capital spending −$3.0M$3.7MFY2025
Over these 5 years operating cash flow totalled −$45.4M; the largest uses were operating cash flow ($60.0M) and buybacks ($31.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$11.8M
Debtnone
Net cash$11.8M
Cash runway10 months

Xwell is burning cash: its operations consume cash, a free cash flow of −$13.5M a year at the current rate against $11.8M of cash and investments: a runway of about 10 months before any new financing.

Where the cash came from and went

Xwell: sources (+) and uses (−) of cash, Q2 2026Xwell: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$4.7MOperating cash flow−$4.5MCapital spending−$169KExchange rates−$22KOther investing$7K
Xwell: sources (+) and uses (−) of cash, TTM to Q2 2026Xwell: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$17.5MOperating cash flow−$11.3MCash drawn (+) / kept (−)−$6.8MOther investing$2.9MCapital spending−$2.2MExchange rates−$76K

From profit to cash

Xwell: net income to operating cash flow, Q2 2026Xwell: net income to operating cash flow, Q2 2026Net income−$1.9MDepreciation & amortization$163KStock-based pay$98KGains on investments−$188KReceivables−$510KInventory$62KPayables−$1.9MDeferred revenue−$81KPrepaid and other assets$82KOther liabilities−$30KOperating cash flow−$4.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202620956-27
Q1 2026201067-37
Q4 2025201165-34
Q3 202518839-12
Q2 202518831-5
Q1 202521830-1
Q4 202417831-6
Q3 2024181140-10

Every quarter

QuarterOperating cash flowCapital spendingBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$4.5M−$169K——$4.7M−$4.7M
Q1 2026−$4.6M−$390K−$9.0M—−$14.2M−$5.0M
Q4 2025−$42K−$706K——$1.4M−$748K
Q3 2025−$2.1M−$945K——$1.3M−$3.1M
Q2 2025−$2.4M−$889K——−$1.1M−$3.3M
Q1 2025−$4.2M−$424K—$3.7M$900K−$4.6M
Q4 2024−$3.5M−$729K——−$185K−$4.2M
Q3 2024−$3.4M−$410K——$1.1M−$3.8M

Xwell: income statement and cash flow

Xwell, Q2 2026: revenue $7.1M (-7% year over year), operating margin -29.4%. The chart follows the revenue to costs, profit and cash.

Xwell: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.